V8 - Returns and Returns list

A return transaction is to an RMA what an item receipt is to a purchase order. It is a record showing that goods have been received back from a customer. You can enter a return without an RMA, or you can generate one from the RMA if needed. If no RMA is used, you may create a return from a sales order, invoice, sales receipt, or shipment transaction. You must enter the quantities for the items being restocked.

Returns list

The Returns list houses the transaction records of customer returns. Returns may or may not be preceded by a return merchandise authorization (RMA). A few of the key actions available for records on the Returns list include Ship via UPS, Use as template, and Show transaction history.

For a general overview of how lists work in SOS Inventory, refer to List functions. See Action and batch action descriptions for more information about the actions available on lists.

Credit memos for returns

When adding a return, if you want to issue a credit memo to the customer in QuickBooks Online, simply check the Credit memo box on the return. SOS will generate one for you. The total amount of the Credit amount column will be the value on the credit memo.

If you do not create a return from an existing transaction, the credit memo will show the unit price as the sales price listed in the item definition, and the credit amount will be $0 until you add a quantity to that line. The credit amount will depend on the quantities and unit prices listed.

Restocking a return

When adding a return, the items go back into inventory. Accordingly, they should have a value or cost basis. The system uses the Restock value for each line item as the cost basis for the current valuation method and MUST be entered before saving the transaction. You can adjust the restock value to account for damages, etc. 

Adding and editing a customer return transaction

A return transaction can be created in several different ways. The different methods are:

1. Generate a return from its original shipment transaction. Typically, this is the preferred method for creating a return because the exact cost of goods sold was derived from shipment at the time of sale. No other method for creating a return can provide an exact restock value; but if you adjust the Quantity field of a returned item, you will need to adjust the Restock value as well. To generate a return using a shipment transaction, locate the shipment in the Shipments list (Operations menu > Fulfillment > Shipments), then select Create return from the Actions menu.
    

2. Generate a return from the associated sales order, invoice, sales receipt, or RMA. The Restock value field of the generated return will show the item’s purchase cost as listed in the item definition. To generate a return from one of these forms, select the Create return option from the Actions menu of the appropriate list.
    

3. Create a new return transaction. All data fields will need to be manually entered.
   Use either of the following methods:

• Go to the Quick add > Misc > Return.
• Go to Operations menu > More transactions > Returns, then select the Add new button on the list page

If you generate a return from another transaction, you may edit the return as needed. An existing return can be opened for editing by selecting the Edit action for the transaction record on the Returns list. Be sure to save your changes.

See Return transaction field descriptions for explanations of fields pertaining to returns.